MKC1200 Lecture Notes - Lecture 2: Internal Communications, Pest Analysis, Global Marketing
30 Aug 2018
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Document Summary
Video 1: the marketing environment and internal marketing: divided into 3 main sections. Internal environment - the organisation, people and processes: micro environment - industry in which the org operates, also partners, competitors, macro environment, pestel, things that affect the market as a whole. Functional departments: employees, external vendors (outsourcing, thi(cid:374)gs do(cid:374)"t ha(cid:374)dle withi(cid:374) the co(cid:373)pa(cid:374)y, eg. External forces in the marketing environment: 6 forces, competitive. Legislation regulating business: ethics and socially responsible actions, eg. Lots of competition: agricultural goods, doesn"t really exist, monopolistic competition, competitors who have very similar products, eg computers, phones, tvs, oligopoly, a small number of powerful competitors. So strong that they can keep other players out of the market: monopoly. Just one major player: no competitors, have control - you have to pay what they want you to pay, monopsony, only one buyer, eg. If there was a town there was only one industry and employed most of the people in the town.
